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City finance staff report Q4 2024 investment portfolio yields, reserves and allocation
Summary
Finance staff presented the city's fourth-quarter 2024 investment report, saying the long-term portfolio is heavily weighted to U.S. Treasuries and the city kept minimal cash on deposit to offset bank fees. Total invested balances and yield drivers were reviewed.
Joe Bartleme, the city's cash and investment officer, presented the fourth-quarter 2024 investment report to the Kent City Council Committee of the Whole on March 4, saying the city maintained a conservative portfolio and captured higher yields by lengthening maturities.
Bartleme said the city had $6.6 million in cash in the bank earning a 4.75% earnings credit that offsets bank fees and a short-term local government investment pool balance of about $114.4 million earning roughly…
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